Correction: TransCanada did not back away from Cook Inlet gas storage plan

An article in the July 18 issue of Petroleum News about a proposed new gas storage facility on Alaska’s Kenai Peninsula incorrectly stated that TransCanada, a subsidiary of which had planned to build and operate the facility, had backed away from the gas storage project. The article reported on a meeting of the Regulatory Commission of Alaska at which officials from Semco Energy provided information about the status of the project, which Semco is now moving ahead with.

Semco had correctly stated that it had bought out the work product for the project from TransCanada.

However, TransCanada had wanted to continue with the project and had been excited to do so, Michael Barnes, communications manager for TransCanada’s U.S. Pipelines and Storage operations, told Petroleum News July 19. But, under the terms of a memorandum of understanding between Semco and TransCanada, Semco had exercised its right to buy out the project. Subsequently, TransCanada has been working with Semco to transition the work product for the project to Semco.

“We certainly didn’t pull out of the project,” Barnes said.